options, page-3

oil1 ..... you say you have received a bundle of MXROA. Do you mean recently received ?
If recently are you sure that they are MXROA or are they MXROB ?
The Options in MXR that are designated MXROA were options issued back in late January 2008 on the basis of 1 MXROA option for every 4 full or head MXR shares you held at about January 30th.
Recently, in June, there was another option issue announced on the same ratio of 1 MXROB (B this time) for every 4 full or head MXR shares you held on the 18 July

Both the MXROA and the MXROB will have the same expiry date of 30 June 2009 apply to them. To convert them into full MXR head shares you have to pay 20 cents per option you wish to convert.

So you can do a number of things with Options:
(a) You can decide to sell them on the sharemarket. If you look up the designated code on the ASX it will indicate the price per option curently. On Friday MXROA finished on the ASX at 3.7 cents each. I don't think there were any MXROB traded or else they on not yet being traded on the market.
The price for an option will track the rise and fall of the head share. As the head share rises in price so the option price will rise and vice versa.
The closer you get to the expiry date normally the price of an option declines relative to the head share.
(b) You can decide to hold them and do nothing with them. You are not required to buy them. That is why they are called "Options". They provide you with an "option to buy the head share at a set price. Ideally you would hope that when you want to convert the option into a head share the MXR would be higher than 20 cents. Say MXR on the market were as high as 35 cents when you decide to convert then you are able to convert your option for 20 cents and get back the MXR share in exchange which is valued at 35 cents on the market. So you are making very nicely on the deal.
(c) Again you might decide to sell some of your Options at some stage on the market, keep the rest and convert them when it was suitable.
(d) You might want to buy more options now while they might be cheap in anticipation that in about 9 months time they have increased in price on the market. In that case you have to remeber that they have perhaps cost you 4 cents per Option for the extra options you buy and will cost you a further 20 cents if you convert them = so they will cost 24 cents total per option in effect.

Don't mean to confuse you but there are many angles of what can be done with those Options. Remember they are OPTIONS to buy.
Hope that is a little helpful. There are probably other things that could be said. But that will do.